17 May 2021 07:00
17 May 2021
Circle Property Plc
("Circle" or the "Company")
Vesting of LTIP Awards
Circle Property Plc (AIM: CRC), which invests in, develops and actively manages well-located regional office assets, announces that share awards made on 20 August 2019 to the executive directors of the Company under the Circle Property Plc 2016 Long Term Incentive Plan ("LTIP") in relation to the Performance Period (as such term is defined in the LTIP) commencing on 1 April 2018, vested on 14 May 2021 at 100% (based on performance conditions) in the following amounts: John Arnold (Chief Executive) 141,023 ordinary shares; and Edward Olins (Chief Operating Officer) 126,921 ordinary shares. The directors now have the right to be issued with the ordinary shares awarded (for nil consideration) although such issues have not yet occurred and remain subject to the exercise by the directors of their right.
The notifications below, made in accordance with the requirements of the UK Market Abuse Regulation, provide further detail.
Circle Property Plc | +44 (0)207 930 8503 |
John Arnold, CEO Edward Olins, COO | |
Cenkos Securities | +44 (0)207 397 8900 |
Katy Birkin Mark Connelly |
|
Radnor Capital | +44 (0)203 897 1830 |
Joshua Cryer Iain Daly | |
Camarco | +44 (0)203 757 4992 |
Ginny Pulbrook Oliver Head |
About Circle Property Plc
Circle is the top performing quoted UK real estate company by NAV total return (NAV growth and dividend) over the last 3 years.
Circle focusses on acquiring assets in regional cities, many of which have significant office supply constraints, and on office assets with active management potential (refurbishment opportunities, under-rented or vacant properties or short leases), rather than just maximising initial rental yields.
Circle is not a Real Estate Investment Trust (REIT) and can actively recycle proceeds from asset sales into its refurbishment and redevelopment pipeline, as well as future investment opportunities, therefore targeting a broader range of returns for shareholders, which are primarily driven by NAV growth.
NOTIFICATION AND PUBLIC DISCLOSURE OF TRANSACTIONS BY PERSONS DISCHARGING MANAGERIAL RESPONSIBILITIES AND PERSONS CLOSELY ASSOCIATED WITH THEM
1 | Details of the person discharging managerial responsibilities / person closely associated | ||
a) | Name | John Arnold | |
2 | Reason for the notification | ||
a) | Position/status | Chief Executive Officer | |
b) | Initial notification/Amendment | Initial Notification | |
3 | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | ||
a) | Name | Circle Property plc | |
b) | LEI | 213800THDWL3FB11M760 | |
4 | Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted | ||
a) | Description of the financial instrument, type of instrument | Ordinary Shares of no par value | |
Identification code | JE00BYP0CK63 | ||
b) | Nature of the transaction | Vesting of options to acquire Ordinary Shares | |
c) | Price(s) and volumes(s) | Price(s) | Volume(s) |
Nil | 141,023 | ||
d) | Aggregated information | N/A single transaction | |
Aggregated volume | N/A single transaction | ||
Price | N/A single transaction | ||
e) | Date of the transaction | 14 May 2021 | |
f) | Place of the transaction | XOFF | |
1 | Details of the person discharging managerial responsibilities / person closely associated | ||
a) | Name | Edward Olins | |
2 | Reason for the notification | ||
a) | Position/status | Chief Operating Officer | |
b) | Initial notification/Amendment | Initial Notification | |
3 | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | ||
a) | Name | Circle Property plc | |
b) | LEI | 213800THDWL3FB11M760 | |
4 | Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted | ||
a) | Description of the financial instrument, type of instrument | Ordinary Shares of no par value | |
Identification code | JE00BYP0CK63 | ||
b) | Nature of the transaction | Vesting of options to acquire Ordinary Shares | |
c) | Price(s) and volumes(s) | Price(s) | Volume(s) |
Nil | 126,921 | ||
d) | Aggregated information | N/A single transaction | |
Aggregated volume | N/A single transaction | ||
Price | N/A single transaction | ||
e) | Date of the transaction | 14 May 2021 | |
f) | Place of the transaction | XOFF | |